Welcome Money pad March 2, 2011 Sample footer 1 To
Introduction: March 2, 2011 Sample footer 2 The 21st century will be paperless paper currency and checks are gradually being substituted by smartcards, digital cash and inst ant transfers of funds. The wallet of the future will hold less paper cash, coins and magnetic stripe cards. It will hold instead Money pad containing Digital cash and other financial information, updated – perhaps Automatically by a PDA With a satellite communication link.
Use the present system : March 2, 2011 Sample footer 4
Credit Card :
Credit cards are payment devices that allow the consumer to make purchases within guarantied limits as defined by the issuer of the card. Dis-advantages : Instant clearing of fund is not possible. User is always under the pressure of limits on purchase defined by the issuer of the card and also every transaction involves certain charges. Insecure transactions using fixed encryption. The card has to be renewed once it is expired.
New user Enter an e-book Request for money pad Creates the details of the new user and his finger print record
March 2, 2011 Sample footer 7 Transaction using money pad: A user wants to use the money pad he has to place his finger on the touch sensor and then place it in a finger print reader. The reader will ask for bank code of the database. Then he can enter into his e-bank, After the reader will access the finger print. General information of user Information collected in passed To the server for verification. Unauthorized Authorized
March 2, 2011 Sample footer 8 Technical implementation of money pad: The money pad uses the Biometric Technology as the technique with which the security is provided. Biometric Technology are used to accurately identify and verify an individuals identity. The accuracy of any biometric system is measured in two ways :
False Acceptable Rate – where an imposter is accepted as a match.
False Rejection Rate – where a legitimate match is denied access.
March 2, 2011 Sample footer 9 Applications of money pad:
Applicable in e-banks and in any kind of e-transactions
The money pad device is capable of carrying digi-cash and it is useful to perform any kind of e-banking or any kind of e-transaction.
Can be used to carry out remote transactions
To perform remote transaction like e-payments, digi-cash transfer etc.,
Useful to carry Digital cash
The Money pad provides a secure means to carry digi-cash.
Utilization of personal data in filling order forms
The personal data stored in the money pad can be used to fill order forms thus savings users time.
Applicable in m-commerce transactions
It is applicable to any kinds of ecommerce transactions.
It is useful in shopping, identification, telephone services and licenses . It is applicable in daily life. Conclusion: The following three requirements are necessary: Instant clearing of funds Elimination of payment risk Secure transactions using strong encryption In future when internet is going to capture the world there is no requirement of any card or pad just a small device which can recognize the finger print can be attached at any place throughout the world.